Asia Pacific Low Voltage Drives Market Size By Power Range (Micro, Low), By Capacity (< 2.2 kW, 2.2 kW - < 7.5 kW, 7.5 kW - < 22 kW, 22 kW - < 75 kW, &#8805; 75 kW - <110 kW, &#8805; 110 kW - < 500 kW, &#8805; 500 kW), By Drive (AC {Efficiency Class [IE1,

Asia Pacific Low Voltage Drives Market Size By Power Range (Micro, Low), By Capacity (< 2.2 kW, 2.2 kW - < 7.5 kW, 7.5 kW - < 22 kW, 22 kW - < 75 kW, ≥ 75 kW - <110 kW, ≥ 110 kW - < 500 kW, ≥ 500 kW), By Drive (AC {Efficiency Class [IE1, IE2, IE3, IE4]}, DC, Servo), By Technology (Standard, Regenerative), By System (Open Loop, Closed Loop), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The Asia Pacific low voltage drives market is expected to record appreciable growth over the forecast period due to escalating investments in smart meters and grids.

Governments across the APAC region are exploring innovative technologies in generation, transmission, and distribution in the power grid to sustainably cater to the growing energy demand. According to the 2018 Renewable Energy Market Analysis from the International Renewable Energy Agency (IRENA), Southeast Asia has witnessed a two-fold rise in energy consumption over the past two decades.

The adoption of integrated power infrastructure is allowing governments to address the challenges of aging infrastructure assets. Singapore, for instance, is an early adopter of smart grid technologies since launching its Intelligent Energy System (IES) initiative.

The country has also collaborated with technology companies like General Electric (GE) to digitize its substations. With many Asian countries adopting smart grid infrastructure, the integration of circuit components such as low voltage drives is expected to increase over the forecast period.

The Asia Pacific low voltage drives market is segmented in terms of power range, capacity, drive, technology, system, application, end-use, and region.

In terms of capacity, the< 2.2 kW segment is projected to exhibit significant growth through 2030 due to the rising demand for maintaining energy efficiency and security across critical operations. Variable speed drives convert fixed voltage and frequency into variable voltage and frequency. This improves system performance by controlling speed to match the load. Low voltage drives are utilized across simple applications such as pump dispensers, and mixers. Such wide applicability of these units will augment market size.

The APAC low voltage drives industry value from the servo drive segment will record appreciable remuneration over 2022-2030. This is attributed to its robust characteristics, including high speed, excellent positioning, and motion control. These units also provide accountability for estimated errors as well as feedback monitoring devices advantage. Prominent features such as these will improve product penetration across the industry over the forthcoming years.

With regards to system, the market share from the closed loop segment is anticipated to exhibit reasonable growth over the forecast period. This growth can be attributed to the system’s ability to deliver improved control and effective temperature and pressure maintenance.

In closed loop systems, voltage can be adjusted depending on the shaft position, to decelerate or accelerate the motor, irrespective of its speed. Such effective and robust characteristics of this system will fuel the use of these low voltage drives in various applications.

In terms of application, the extruder segment is projected to account for a significant share of the APAC low voltage drives market by 2030. Extruders are used in stock metal, plastics, and rubber shapes. These motors are integrated with low voltage drives to enhance product quality & process control, expand automation, and lower energy consumption. With the growing adoption of extruders for industrial applications, the market will witness substantial growth over the estimated timeframe.

Based on end-use, the power generation segment is poised to record substantial revenue over the forecast period. This growth is credited to various initiatives and strategies being employed by businesses to drive the development of sustainable and energy-efficient networks.

Citing an instance, in December 2021, the Asian Infrastructure Investment Bank (AIIB) proposed an update to the Energy Sector Strategy to reflect the latest institutional and sectoral context. Such initiatives may bolster the requirement for safe and high-performing electrical components, and thereby boost LV drive installation in power generation operations across the APAC region.

From a regional perspective, the Australia low voltage drives industry will exhibit substantial growth. This can be ascribed to the rapid adoption of heavy-duty applications in the country. Growing demand for energy, along with surging investments in commercial infrastructure development will also increase product installation. Moreover, the accelerated expansion of manufacturing facilities will boost regional market size over the forthcoming years.